Tuesday Mar 09th

  • Nothing is more effective in marketing than psychological triggers

    Nothing is more effective in marketing than psychological triggers

    Subconsciously, behavior patterns that are coercively triggered provide the decisive purchase impulses. CleverReach is well aware of that fact and shares some practical tips and tricks on how to use sales psychology in your email marketing to spark a strong buying incentive in your customers.

    Especially online, where people buy quickly or not at all, the right tricks can make all the difference. If the recipient of your newsletter is interested in an offer and ready to make the final purchase decision, psychological incentives set and strengthen the decisive purchase impulse.

    The fact is that we seldom know the real value of a product since the variety of products has increased immensely. Hence, marketing plays a major role in pricing, especially since we often confuse the ideal value of a thing with its material value. Therefore, we use comparative values as a basis because intensive price research is often too tedious for us.

    It is much easier if we orientate ourselves on the first price that we associate with a product in the area, which is quasi our anchor. It determines how we rate other prices: whether we find them expensive or cheap, we do not check whether the anchor price is justified. So, use the anchor effect for your pricing strategy and set anchor prices in your newsletters too.

    • The most expensive first: in retail, the seller offers the customer more expensive models first—this is how he sets the anchor price! Although customers often buy the second most expensive product in the end.

    • The middle sells: since most people don't know the exact price, they tend to buy the middle-priced product. This is where they suspect the best value for money. Irrationally, people simply ignore offers that are difficult to compare, rather focus on the offers that are easy to compare and decide then on the more attractive offer. In other words: if you want to promote sales of a product, provide it with a similar, less attractive bait. In this way, sales can be controlled, and profits doubled!

    • Give to get is the credo of a real sales genius. A gift, a little extra or an attractive give away often only costs a few cents but increases your sales many times over. Favors and gifts create an inner pressure to reciprocate, which is why psychologists call this phenomenon reciprocity. This effect can be easily transferred to business. It is just important that your goodie fits the product and that you advertise trial and gift campaigns in your newsletter!

     

    The choice paradox

    Having a lot of choices seems to be attractive and without doubt generates a lot of interest, but it paralyzes the purchase decision. The cause is the risk of choosing the wrong product, which increases proportionally to the selection. Customers no longer know what the best deal is, and before they risk buying the wrong thing, they don't buy anything at all. So, the large selection becomes a sales killer!

    Basically:

    • Make it easy for your customers to choose. Reviews weight the offer and provide orientation: identify frequently purchased and therefore popular products! 70% of all customers include other customer ratings in their purchase decision! Work with stars to be able to grade ratings from "0 - 5" - "bestsellers" - disturbers are also very striking.

    • Do not overwhelm the customer with a huge variety of products and to take away the fear of making the wrong decision. Therefore, highlight one to three campaign specials! Mark your specials with disturbers or make them larger.

    • Limit your offer or offer give support in making a decision, so that your customers are not overwhelmed by too many products. Present a maximum of six products per category in your newsletter or just announce the campaign in your email, for instance, with a subject line like: "Summer Sale - 50% Off!"


    The bestseller effect

    Whether software, baby food, or spirits, if you don't know a product, you are happy to try a “best seller” or a “favorite”. What millions buy is an incentive for millions more. The bestseller effect, also known as “social proof,” in psychology, is the key here. It is based on the “herd instinct” of people: Without thinking twice, we imitate the behavior of others—the group just has to be big enough. The individual assumes that the group is doing the right thing. For your email marketing this means mentioning the bestsellers or positive customer feedback.

    The bargain hunters

    If we like a product and if it is reduced on top of that, it is almost impossible to resist. We don't even need to actively have been looking for this product.

    Bernd Weber, neuroscientist from the Life & Brain Center at the University of Bonn, has proven that just looking at large percentage signs activates the brain's reward system. For this purpose, test persons were shown products and prices in a computer tomograph, some of which were provided with percentage signs, which immediately addressed the reward center and evoked positive expectations. At the same time, self- and error-control decreased. Combined with email marketing, the effect of these methods even increased, since emails are personalized messages.

    The recipient's interest is primarily piqued by the subject line. Accordingly, the recipients who read your email are even more susceptible to your stimulating email design, since simply opening the email implies interest in the offer. As a result, biased readers are easy prey for your intense stimuli. So, you can be sure that “free” will ultimately pay off.

    The purchase impulse – “free of charge”

    “Free of charge” is one of the strongest triggers for opening an email and buying a product.

    Dan Ariely, psychologist and author of the book "Predictably Irrational: The Hidden Forces That Shape Our Decisions", also calls it the "free" effect. The “free” concept is so convincing that people even get a tattoo for it, as Ariely proved in an experiment, in which students stood up for a free tattoo that 68% would not have gotten had it cost something. This means for your email marketing using the word “free of charge” to attract more newsletter subscribers.

    After all, anything that is free is irresistible: free registrations generate more subscribers, addresses and participants; subject lines with the words “free” or “free of charge” achieve higher opening rates and thus, lead to significantly more sales in the long term.

    As you can see, sales psychology can be easily translated to your newsletters and promotional emails and should be used in one form or another for pushing sale up. Use your strengths and popularity to convince new customers or undecided buyers of your products and let the herd instinct work for you. Large discount labels, free promotions and exclusive offers for your existing customers trigger the impulse to buy and at the same time give a feeling of appreciation.

    By Daniela La Marca

  • How relevant is voice search for online marketing - really?

    How relevant is voice search for online marketing - really?

    There are always new predictions on the Internet about what the future of marketing will look like and particularly often it is being forecasted that in 2020, which means this year, half of all online searches should be carried out with a voice assistant. However, such forecasts are problematic since Google and other providers of voice assistants do not reveal any meaningful usage figures or statistics on the proportion of voice searches. Hence, the actual percentage of voice searches cannot be clearly determined. In addition, one would have to differentiate between what is considered a search and what is a voice control of a device. Anyway, in the end, the question remains: “How relevant is voice search for online marketing - really?

  • In marketing, transformation must take place at the user interfaces

    In marketing, transformation must take place at the user interfaces

    Due to constant changes, new innovations and developments, the digital world often seems quite confusing, doesn’t it? Indeed, the so-called digital transformation is inexorably changing one industry after another, much more powerful and disruptive than anything that has happened before.

  • Voice bots should be used in combination with human agents

    Voice bots should be used in combination with human agents

    Voice bots keep getting better and better, but their growing adoption raises at the same time questions about data protection and the limits of use in personal conversations. Although, we are clearly only at the beginning when it comes to using intelligent language technologies, their integration into the customer dialogue is constantly progressing.

  • Enhance unused potential in the conversational UI

    Enhance unused potential in the conversational UI

    Every company wants to offer their customers a unique customer experience, which is one of the main reasons why they are increasingly trying to differentiate themselves from the competition with voice assistants or chatbots.

  • AppsFlyer released Growth and Performance Index for Southeast Asia

    AppsFlyer released Growth and Performance Index for Southeast Asia

    AppsFlyer, the global attribution leader, released  the 11th edition of the Performance Index and the 2nd edition of the Growth Index.

    The Performance index guides marketers on how media sources are performing, and which show potential for partnership, while the Growth Index examines the diverse ad networks of Southeast Asia (SEA) to determine their rankings.

  • Customer analytics made easy

    Customer analytics made easy

    There are numerous methods of identifying customer groups or segments analytically. Apteco, a true expert in this field, picked two of these methods - the RFM and the Pareto analysis – to assist us in understanding customer data without having to be a statistician.

  • Ground-breaking open-source security solution will safeguard billions of devices

    Ground-breaking open-source security solution will safeguard billions of devices

    A few lines of code embedded in the firmware is all it takes to offer multi-layer, virtually impenetrable protection for the world’s hugely vulnerable Internet of Things (IoT) devices.

  • Singapore’s first-ever 3D virtual property expo demonstrates the rise of the experience economy

    Singapore’s first-ever 3D virtual property expo demonstrates the rise of the experience economy

    MOGUL.sg, a property technology start-up, just announced the launch of Singapore's first-ever 3D Virtual Property Expo and provides us with a glimpse into what we can expect to see emerging in today’s experience economy. The virtual expo will take place from 15 to 17 October 2020 and be hosted on the MOGUL.sg platform, featuring Singapore Land Authority (SLA)'s OneMap3D, with the aim to assist home buyers with their property search and decision-making process.

  • In times of COVID-19, social media communication must be perfectly targeted

    In times of COVID-19, social media communication must be perfectly targeted

    Most people’s lives have drastically changed due to COVID-19: everyone is talking about the coronavirus and how the next few weeks will develop, and many are rightly concerned, miss friends and family. Hence, their use of smartphones, time spent on the laptop, and consequently the time spent on social media platforms, continue to increase rapidly. Even more important is that social media helps to increase people's well-being in times of COVID-19.

  • Not all data is created equal

    Not all data is created equal

    In marketing, data is divided into first, second, and third-party data, based on their origin. Third party data, which currently still is the basis for dominant forms of advertising, such as programmatic advertising and thus for a large part of personalization in marketing, in particular in the form of cookies, loses in many cases applicability due to changing legal and technical framework conditions.

  • When information and answers aren’t readily to hand, customers walk away from purchases

    When information and answers aren’t readily to hand, customers walk away from purchases

    Singapore has a long-standing love affair with shopping. Many of the country’s malls built in the 1970s and 80s were pioneering in their day, and today the island state has more malls per square mile than any other country in the world. Recent years have seen a dramatic shift from in-person shopping to online retail with giants such as Shopee and Lazada becoming household names and COVID-19 lockdowns sending more people to the Internet for their purchases. However, a new report notes that while shoppers are moving increasingly online, many remain unhappy with the level of customer service they receive there.

  • Apple operating system increasingly the target of malware

    Apple operating system increasingly the target of malware

    MacOS has the reputation of being a relatively attack-proof operating system. Not only among Apple users, MacOS has always been far less susceptible to malware and cyberattacks than the market leader Windows. The fact is, however, that even Mac users are not immune to compromises or dangerous infections, as there is more and more malware that specifically targets MacOS.

  • Continuous 5G evolution for building an engine of all-industry digitalization

    Continuous 5G evolution for building an engine of all-industry digitalization

    Dr. Tong Wen, Huawei Fellow and CTO of Huawei Wireless, emphasized in his keynote speech at the 5G Advanced Summit that 5G must continuously evolve to build an engine of all-industry digitalization so as to satisfy the fast-growing consumer connections and diverse industrial applications.

This week's highlights

Half of global citizens risk missing out on governments' digital services boom due to privacy concerns, EY survey warns

Category: March 2021 - Data Privacy & Ethics in Marketing: Identity, Trust, and Value(s)
Governments pushing ahead with increased online services run the risk of alienating large numbers of their citizens due to concerns around data privacy, according to How can digital government connect
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The pursuit of privacy in the digital age

Category: March 2021 - Data Privacy & Ethics in Marketing: Identity, Trust, and Value(s)
So far, many players in online marketing have benefited in Wild West style from the lack of a clear regulation for the setting of cookies or the collection of personal data. To get to know the website
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Clubhouse hype suppresses privacy concerns

Category: March 2021 - Data Privacy & Ethics in Marketing: Identity, Trust, and Value(s)
Clubhouse is currently the most downloaded program in Apple's App Store. The entrance fee is personal data. The provider records all comments and, in many cases, transfers address book entries from th
Read more...
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Previous articles

AI-based trigger campaigns efficiently increase the relevance of your dialogue marketing campaigns

Category: February 2021 - Conversational & Event-Triggered Marketing: Real-time Multichannel Marketing
Always offering customers exactly the product they want—ideally at the exact moment when they want it—is what every company is dreaming of.
Read more...

Tailoring content to capture the e-commerce market

Category: February 2021 - Conversational & Event-Triggered Marketing: Real-time Multichannel Marketing
At the inaugural Shopee Brands Summit 2021, Shopee’s leadership team shared their 2021 roadmap for brands to capture the next wave of growth in the region’s US$172 billion e-commerce marke
Read more...

In marketing, transformation must take place at the user interfaces

Category: February 2021 - Conversational & Event-Triggered Marketing: Real-time Multichannel Marketing
Due to constant changes, new innovations and developments, the digital world often seems quite confusing, doesn’t it? Indeed, the so-called digital transformation is inexorably changing one indu
Read more...
View More Articles

Previous month's highlights

Genesys invests in digitization and AI to provide intelligent and seamless service

Category: January 2021 - Artificial Intelligence (AI) & Automation in Marketing: Big Data & Deep Learning

Genesys, the world's leading provider of cloud-based customer experience and contact center solutions, established a new business unit. Genesys Digital is designed to help companies keep up with the latest technology trends and the ever-changing needs of consumers in the digital world.

Artificial Intelligence and Marketing Automation in Marketing

Category: January 2021 - Artificial Intelligence (AI) & Automation in Marketing: Big Data & Deep Learning

Artificial Intelligence (AI) and Marketing Automation (MA) are two advanced tools that allow marketers to automate and optimize tasks across the whole marketing spectrum.

Marketing automation puts an end to monkey work

Category: January 2021 - Artificial Intelligence (AI) & Automation in Marketing: Big Data & Deep Learning

Recurring work processes have always been both a curse and a blessing in modern marketing. The good old (M)ad Men from Madison Avenue earned quite well with it and were able to keep their “sovereign knowledge” non-transparent in analogue times. Today, nobody accepts paying hourly rates beyond good and bad for repetitive work processes without great intellectual or creative ability. This so-called ‘monkey work’ has become a commodity and the automation of such routine work a factor in future competitiveness.

Technology competence is king in times of pandemics

Category: January 2021 - Artificial Intelligence (AI) & Automation in Marketing: Big Data & Deep Learning

Obviously, companies whose management has technological competence can cope better with the corona crisis, as a variety of studies prove. When asked what must-haves for future managers are indispensable, four skills emerged as being crucial: decision-makers should have strategic thinking, leadership qualities, be competent in handling technologies, and understand the market and customers.

View More Articles

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